mFoundry entered 2008 in fine style, adding another major player
in the US financial services industry, PSCU Financial Services
(PSCU), to the impressive list of users of its Spotlight mobile
banking platform. PSCU, the US’s largest credit union service
organisation, will deploy the platform as the core element of a
mobile banking service to be made available to its more than 500
credit union members that represent over 11 million cardholder
accounts and 470,000 online bill payment subscribers.
The mobile service to be offered by PSCU will facilitate
transfers between accounts, bill retrieval and payment, real-time
access to cheque, savings and credit card information and search
and retrieval of account transaction history. In addition to
supporting most payment transaction types, the Spotlight platform
supports services such as coupons and loyalty programmes.
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“We are in a unique position to offer a mobile commerce platform
that uses state-of-the-art technology along with interoperable
payment systems to create a robust solution for our member-owner
credit unions,” said PSCU’s president and CEO David Serlo.
PSCU’s selection of mFoundry as its mobile financial services
provider followed another significant client gain in December 2007
when Fidelity National Information Services (FNIS) selected the
Spotlight platform to offer hosted mobile banking and payment
solutions to its US clients.
Providing background to the selection of the platform, Anthony
Jabbour, executive vice president of FIS’s Integrated Financial
Solutions division said: “mFoundry’s platform gives us more
flexibility than the other solutions we saw in the market, while
providing us with the ability to deliver the right solution for
financial institutions of all sizes.”
“FIS is an important partner for mFoundry because of FIS’s
leadership position and reputation for consistently delivering
best-of-class financial services solutions,” said mFoundry’s CEO
Drew Sievers. “FIS has great reach into thousands of
financial institutions and has processing and technology
relationships with more than 30 of the top 50 global banks and at
least 50 percent of community financial institutions in the US,” he
added. FIS has 9,000 banking and credit union clients in the
US.
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By GlobalDataFIS and PSCU join other prominent US company’s that have opted
for the Spotlight platform including its first user, the US’s
largest bank, CitiBank, which selected mFoundry’s technology for
its CitiMobile service in 2006. Since the platform’s commercial
launch in April 2007, others to have selected it include the US’s
third-largest wireless communications group Sprint Nextel for its
first foray into the mobile banking market and merchants payments
services supplier First Data.
Founded in 2004, mFoundry has proved itself a force to be
reckoned with in the world of mobile payments.
